Bitcoin’s price has been on the rise for the past few weeks, which is why Bitcoin bulls rejoice and hope that this upward trend will persist. On the other hand, Cardano whales seem to shift their focus toward the new meme coin Smog ($SMOG), which brings new energy to the market and shows enormous growth potential. This article will dig into the reasons behind the enormous popularity of $SMOG right off the bat and the possible outlook for Bitcoin and Cardano this year, so let’s dive in!
$SMOG is Poised to Conquer the Crypto Market
Bonk, Myro, and Dogwifhat made an enormous success after Dogecoin and Shiba Inu, and it seems that the market is finally saturated with dog-themed cryptos. This makes the importance of the Smog token even bigger. With the leading slogan, “One meme coin to rule them all, “one cannot help but draw the parallel between the Lord of the Rings and the precious ring that allures everyone in the Land of Mordor just like $SMOG attracts crypto enthusiasts.
Not only is the design of this meme coin interesting, depicting a dragon, but the perks that come with it make it extremely appealing. Buying a $SMOG token means that the holders will have the right to participate in the Airdrop, which is surely extremely interesting for crypto investors looking to maximize their gains. This project will focus on three main elements: liquidity, Airdrop, and Fair Launch. The total number of tokens in circulation will be 1.4 billion.
The project was recently launched, and its captivating allure resulted in a rapid increase in purchases, pushing the token’s market capitalization beyond $1 million in a matter of minutes. The swift success of $SMOG has attracted the interest of traders, which is expected to increase further over time.
In addition, building upon the triumph of the $SMOG launch and enthusiastic community involvement, Smog is introducing a bridge to ETH. This means the investors can seamlessly bridge $SMOG to ETH utilizing portalbridge.com, leveraging Wormhole, a prominent cross-chain platform boasting over $1 billion Total Locked Value (TVL). The introduction of $SMOG on ETH extends Smog’s reach to the Ethereum community, a significant player in the cryptocurrency space with one of the largest trading volumes.
The investors who choose to stake tokens on the $SMOG website enjoy a 10% discount and also a 42% Annual Percentage Yield (APY). The staked tokens have a 90-day lock period, during which rewards can be withdrawn at various intervals. Users who already possess $SMOG in their non-custodial wallet have the option to stake their tokens using the Smog Staking Dashboard, enjoying the same conditions, so make sure you explore all the perks!
Easy Steps for Collecting Smog Airdrop Points
The Smog Airdrop is announced as the greatest Solana Airdrop, instantly attracting the investors’ attention. The free tokens are surely a valuable reward, but that is not the only reason behind their appeal. It is a way to show the community’s strength and promote this project further, which will, in return, affect the value of $SMOG tokens and benefit all the holders.
Participants can accumulate airdrop points by engaging in daily, weekly, and monthly quests. The leaderboard will showcase community members with the highest airdrop points, and specific point values for activities will be disclosed as the Airdrop progresses. Airdrop points are obtainable through various means, including interacting with Smog’s social channels, participating in quests, and engaging in on-chain activities such as buying, holding, and staking Smog tokens.
In the future, community members will have the opportunity to acquire additional airdrop points by purchasing and staking Smog tokens, giving investors multiple options to participate and get closer to the valuable rewards, so don’t miss out on this very appealing token!
What Can Investors Expect From Bitcoin and Cardano in 2024?
Approaching its forthcoming halving event in April 2024, Bitcoin is getting closer to a supply shock, poised to reshape its value and adoption landscape potentially. This impending reduction in supply, set against a backdrop of escalating demand, particularly from institutional investors, has the potential to instigate a scarcity scenario.
During a recent exclusive interview with Fox Business, Anthony Pompliano, founder and investor at Pomp Investments, illuminated the unavoidable “supply shock wave” awaiting Bitcoin in the aftermath of its upcoming halving. Pompliano expressed the belief that this supply shock might catalyze a substantial surge in Bitcoin price by the conclusion of this year that may “even surpass the all-time high of $69,000”.
On the other hand, Cardano (ADA) emerged as a standout performer during the 2021 bull run, reaching an impressive all-time high of $3.10. Its current valuation is $0.62, accompanied by a market capitalization of $22 billion. In 2024, several altcoins experienced significant rebounds, nearly approaching their peak values, pushed by positive market sentiment and the approval of the spot Bitcoin ETF. This influx of funds into the crypto market proved beneficial for numerous altcoins.
However, not all altcoins enjoyed the anticipated recovery, and Cardano (ADA) was among those struggling to regain momentum. The recovery process has been notably sluggish, and the coin has struggled to surpass the $1 mark for an extended period. While whales initially expressed interest in Cardano’s recovery, the bullish sentiment is now waning, and it seems that their focus is now going towards Smog because of its enormous growth potential.
Conclusion
Seizing the opportunity to invest in crypto that could bring significant gains is the most challenging part for investors. While the price of Bitcoin is pumping, the bulls are feeling joy when thinking of the possible gains. Meanwhile, the Smog token clearly shows its potential, which is why an increasing number of investors are choosing it instead of ADA and many other cryptocurrencies. Make sure you secure your portion in time!